Buying a home can easily be the most expensive purchase a person makes in his or her lifetime. The decision fosters feelings of excitement and enthusiasm. But, before a buyer is swept away with the euphoria of acquiring a new home, a certain amount of caution should be exercised. Before a buyer signs on the dotted line, there are at least 10 things to be considered.
Before venturing out to look at the first house it is wise to be pre-qualified to determine how much you can afford. A pre-qualified letter also puts you in a good position to have your bid taken seriously by a seller.
Don’t get caught up in the aesthetics of a house. Instead, look at the soundness of the structure.
Resist buying the first house you look at because you think you absolutely must have it.
Make a list of non-negotiable amenities you must have in your home and don’t compromise.
Don’t assume that a house is priced accurately. Do your homework and investigate how much similar homes in the area sold for in the last six months.
Check to see if there are back taxes due on the property you are interested in. This could give you invaluable bargaining power with the seller.
Find out how long the house has been on the market. The longer a house has been listed, the more motivated a seller may be.
Remember the golden rule of real estate is location, location, location. Make sure the house of your dreams isn’t in a location you are not prepared to live in. Visit the home at different times of the week and at different times of the day and night.
Find out what construction is planned for the area that surrounds the house you are thinking of buying.
Make sure the house is inspected from top to bottom by a professional home inspector.
Following these simple steps will help to ensure that what is probably the most important purchase of your life is a good investment whether you intend to stay in the home long term or not.